A few articles on the open frontiers of technology, energy, space and publishing that are worth a read and a brief comment.
About those low energy prices – #4
11/15 – Dickinson Press – Bakken keeps booming: Despite low prices, companies continue to invest in Oil Patch – Estimates attributed to “state officials” suggest that crude oil prices would have to drop to $42 per barrel to bring most production in the state to a halt. The impact of that price would be far more devastating to OPEC and Russia than the U.S. industry.
Article mentions Continental Resources dropping all their price hedges. Also mentions Schlumberger is about to sign a two-year lease for 45 apartment units in Williston. They will pay whether they use the apartments or not. Price is reported at over $2,000 per unit.
11/15 – Space.com – Philae Comet Lander Falls Silent as Batteries Run Out – Sad that the bounce left the lander in a position it could not draw enough sunlight to keep the batteries charged. It went into hibernation after 57 hours of operation. Good news is there are 57 hours of experiments to analyze, which is a mass of first-ever information from up close and personal about a comet. The astoundingly wonderful news is that after a 10 year flight, a probe landed on a comet that was travelling at a reported 84,000 miles an hour. Landed on a comet! I think that is a very successful mission.
11/15 – Carpe Diem – Chart of the day – Apple is worth more than the entire stock markets of Russia and Mexico. Market cap of Apple Inc stock is $669B. Capitalization of the entire stock market in Russia is $553B, and all the stock on the Mexican stock market is valued at $538B. I’ll say that again – the stock of Apple is worth more than all the stock on the Russian market.
Economic Lesson: Never underestimate the size, power and dynamism of the US economy and its ability to foster and nurture American-based corporations that grow in market value to levels that exceed the entire stock markets of countries like Russia and Mexico.
Update: Discussion of dispute between Amazon and Hachette deleted from this post and move to a separate post. Realized after publishing that the discussion should be a stand-alone article.